15th Jan 2015 07:50
LONDON (Alliance News) - Experian PLC Thursday said it is confident of returning to a position of revenue growth as it approaches the end of its financial year, and for its full-year results to demonstrate stable margins and good progress in benchmark earnings, both at constant currency, and to exceed 95% cash flow conversion.
In a trading update for the last three months of 2014, the information services company, which provides data and analytical tools to clients, said that revenue from continuing activities was down 1%. At constant exchange rates, growth was 2%, and organic revenue was unchanged.
The company said the differences in the growth rates arose from its acquisition of Passport Health Communications Inc, and from foreign exchange translation relative to the dollar.
"Our credit services business performed well, with strength across all regions, including our big markets in the US, Brazil and the UK," Brian Cassin, chief executive, said in a statement.
"Our plans for transitioning North America consumer services are on track, and while it is early days, we're encouraged by the market response to the major release of the Experian FICO product, which took place at the end of the quarter," Cassin added.
"Looking ahead, our expectations are unchanged. We are confident of our ability to return Experian to top-line growth as we exit the year, and for the full year to maintain margins (at constant currency), to deliver further good progress in Benchmark earnings (at constant currency) and to exceed 95% cash flow conversion," Cassin said.
By Samuel Agini; [email protected]; @samuelagini
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